Alliant & Penfed at the same time????

Alliant & Penfed at the same time????

I currently have a good relationship with Alliant and have my SUV financed with them and a Personal Loan. I was wondering if I would have problems getting up with Penfed to, or will they Bulk at the fact that I am with the other. I am wanting to finance a second auto and think that Alliant will bulk on that since I just goot the refinance and a personal loan in the last 2 months of being with them.

I have a score in the upper 600 range.....

I am Self-Employed and have all my tax returns but with Alliant have not had to prove income.... How is Penfed with the proving income?

Re: Alliant & Penfed at the same time????

PenFed usually likes you to prove income... also, you might have a problem getting financing with any good rate with penfed with your scores. Your scores arent bad, but they usually like 700 and above to give you any prime rate... I mean, I just app'd a few weeks ago and they offered me 6.xx%, which was crazy when NFCU offered me 3.99 - not to mention my scores are almost all over 800 now. Give them a shot! But dont expect too much and you might be pleasantly surprised

Re: Alliant & Penfed at the same time????

Lyy is right, YM will DEFINATELY vary with Penfed. I just got in with them, my income is a tad higher than Lyys, but I have just a tad lower scores than him and I got the 3.99 rate. And I was only a member for a couple of days. It wont hurt to be a member of both if you can take the inquiry I would imagine. Also, they use one inquiry for 60-90 days so if you are needing anything you can get in with penfed and apply to everything you need within that time with only 1 inq.

Re: Alliant & Penfed at the same time????

Penfed will do nothing for you. You will waste time, money and an inquiry.

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Re: Alliant & Penfed at the same time????

Thanks for all the info.... I think i will just stick with Alliant since they have been very helpful and hope they will do a second auto loan...

With Alliant you can use your pulled score for 30 days per the Senior Loan Officer I have been going through. My brother was also told that when he was looking for a car. They told him to try and find one within 30 days so another pull would not have to be done...

Re: Alliant & Penfed at the same time????

Well I went ahead and called up the loan officer I have delt with since opening the account with them and got a pre approval for $50,000 @ 5.9 APR on a second car loan ( he even said if I need more just give a call to him) with them and that is with a score of 645 (Fico) This makes three loans with them in 3 moths so I must say Jaguar dealer here I come Monday........ I have not had to verify my income and they know I am Self-Employed. I love this place cause any bank I know would have laughed at a $7000 unsecured Personal Loan with a score of 632 at the time. The loan officer said to wait another three months and he would give me a good Credit Card so I can close some of these high fee cards I have. I do have a good income so that must play a large role in my approvals but I am shocked they dont want me to verify with a low 600 score like i have but i guess this is why there is so much talk about Alliant these days. I have my brother going with them now......

Re: Alliant & Penfed at the same time????

CyndibemyLOVE wrote:

Well I went ahead and called up the loan officer I have delt with since opening the account with them and got a pre approval for $50,000 @ 5.9 APR on a second car loan ( he even said if I need more just give a call to him) with them and that is with a score of 645 (Fico) This makes three loans with them in 3 moths so I must say Jaguar dealer here I come Monday........ I have not had to verify my income and they know I am Self-Employed. I love this place cause any bank I know would have laughed at a $7000 unsecured Personal Loan with a score of 632 at the time. The loan officer said to wait another three months and he would give me a good Credit Card so I can close some of these high fee cards I have. I do have a good income so that must play a large role in my approvals but I am shocked they dont want me to verify with a low 600 score like i have but i guess this is why there is so much talk about Alliant these days. I have my brother going with them now......

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IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.